TechNavio recognizes the following companies as the key players in the – Global Automation Market in the Oil and Gas Industry: ABB Ltd., Emerson Electric Co., Honeywell International Inc., and Siemens AG.
Commenting on the report, an analyst from TechNavio’s Engineering team said: ”DCS has been the most preferred automation solution in the Oil and Gas industry as it is equipped with a myriad of features that are capable of handling a variety of complex processes that generally prevalent in the industry. In the last few years, the functionalities of PLC and SCADA equipment have vastly improved and are slowly starting to gain a greater penetration in the Automation market. This in turn has led to lack of distinguishability between PLC, DCS, and SCADA. The blurring of lines in the segmentation of DCS, PLC, and SCADA could lead to one product segment eating into the share of another product segment. PLC and SCADA currently available has the functionalities that could rival a DCS and are also priced competitively, which could lead to a growing preference for these products in the Oil and Gas industry.”
According to the report, the leading factor for this market is the increasing demand for energy across the globe. Post the global economic recession, many countries have begun to recover with the increasing demand for energy witnessed in the past three years. As the demand increases, green-field exploration projects increases, and the projects that had been shelved are brought back to the fold. This directly provides greater opportunity for the growth of the Automation market in the Oil and Gas industry.
Further, the report states that one of the major challenges is the declining price of automation solutions. This reduction in price due to intense competition among vendors is affecting the overall revenue of the market. This price war among vendors is expected to continue for the next few years as product differentiation between PLC, SCADA, and DCS continues.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Invensys plc, Yokogawa Electric Corp., Omron Corp., and Rockwell Automation Inc.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-automation-market-oil-and-gas-in…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Engineering market research, please visit https://www.technavio.com/engineering-software
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TechNavio Announces the Publication of its Research Report – Global Automation Market in the Oil and Gas Industry 2012-2016
